A trade-off refers to:
A. allowing the government and other organizations to choose for us.
B. sacrificing one thing for another.
C. deciding who consumes the products produced in an economy.
D. holding other variables fixed.
Answer: B
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The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400The marginal cost of upgrading from a 2.5GHz to 3.0GHz computer is:
A. $200. B. $100. C. $400. D. $300.
Which of the following countries has not experienced hyperinflation in the twentieth century?
A. Germany B. Russia C. Argentina D. United States
If monetary policymakers respond aggressively to current inflation above the target inflation rate, the:
A. dynamic aggregate demand curve would have a steep slope. B. monetary policy reaction curve would have a positive and steep slope. C. monetary policy reaction curve would be flat. D. dynamic aggregate demand curve would shift rightward.
If a company's total costs per day increase from $200 to $400 by adding another worker, but its additional benefits are $300, it is sensible to add that additional worker.
Answer the following statement true (T) or false (F)